New Obama ad challenges Mitt Romney's economics

WASHINGTON (AP) — President Barack Obama's re-election campaign is keeping up its effort to paint Mitt Romney as a job-destroying corporate raider at Bain Capital.

In a video being released Monday, Obama's campaign zeroes in on a Marion, Ind., company, American Pad & Paper, also known as Ampad. The ad charges that Ampad bought and closed the SCM office products plant, immediately costing 250 workers their jobs.

The aim is to challenge Romney's arguments that he's more qualified than Obama to handle the country's shaky economy.

The ad says Romney and his partners multiplied their investment in the office products plant by 20 times while the company went on to lose some 1,500 jobs and went bankrupt by 2000.